Home Buying in 94087>Question Details

Zambeel, Both Buyer and Seller in Sunnyvale, CA

difference in price between 94087 and cupertino

Asked by Zambeel, Sunnyvale, CA Mon Dec 31, 2012

what is the typical price difference between 94087 feeding into fremont high compared to cupertino / monta vista.

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Hi Zambeel,
After more than a decade of monitoring the performance of various neighborhoods in Silicon Vally, I've noticed that, as prices rise, the prices in the high API neighborhoods rise more than the prices in the lower API neighborhoods. I've watched as a $100,000 delta became $150,000, then $200,000, etc.
0 votes Thank Flag Link Sat Jan 5, 2013
yes, in a matter of speaking it will but depends if you are paying all cash, or whether you take out a mortgage. If you take out a mortgage, the income will offset the mortgage payment, taxes, vacancies, etc. If you pay cash, the income less the expenses will be a good source of income to continue your private education, and eventually college. But the appreciation in such a property, plus the one you already own may/may not keep pace with the higher scoring API homes appreciation. It is impossible to gauge whether this will hedge you completely, partially, or not at all because there are too many variables to consider to give an accurate answer. A good CPA should be able to run the "what ifs" for you given your financial situation, your down payment, your income, any income derived from a potential income property, etc......I would crunch the numbers with a CPA, then get yourself qualified by a reputable lender, and then talk to a Real Estate professional about specifics-selling your home now vs. later, what can you buy now vs. later, then investigate the school situation to see if moving makes sense for you, or whether you are happy to stay where you are. If staying where you are isn't where you want to be, then that is a different issue and it would be a good case for making the move now rather than waiting when prices are sure to be going up. Good luck with it. If you need referrals to CPA's, Lenders, etc. let me know. Good luck.
0 votes Thank Flag Link Sat Jan 5, 2013
Thanks for the feedback. We like the private school for now and it is mostly future consideration. Can a investment property of 500k hedge us against the future price difference without going through the hassle of selling & then buying now.
0 votes Thank Flag Link Sat Jan 5, 2013
Well that's easy :). The prices in the Cumulus area are up, and so are the prices in West Valley, Cherry Chase and all the high API schools. But as the prices continue to rise, they tend to rise quicker in the higher API neighborhoods, outpacing your current home. So the longer you wait, the bigger the spread between what you sell your house for, and what you will need to spend on the next one. The spread is narrower now than it will be if inventory stays low and prices shoot for the stars. You don't gain by waiting. Your income will cover the spread now, but if the spread increases, you may find yourself unable to get a decent home at a price you can afford.

That being said, I live in a very high scoring Cupertino school district, and we bought for the schools, but don't use them, opting for private for specific reasons. Besides API, you have to know whether the school will fit your childs needs or not. In my case, it didn't. So before you decide to move, do be careful to look beyond the API and look at what the school offers your child. Some folks are very happy with the same school I took my kid out of, so if it works for your child, then go for it. If your child is happy at Stratford, and you have a lower housing cost, that isn't bad either. I know that may be contrary to what a Realtor should be saying, but I believe in honesty. Good luck, and if we can be of any help, our contact website is attached. Best wishes in 2013!
0 votes Thank Flag Link Fri Jan 4, 2013
Thanks for the informtive answers. We live in the cumulus st area (ellis elementary) and have a kid that goes to stratford (elementary). We bought the house before kid was born. We are trying to figure out, If we should / what is a good time to move to better school district.
0 votes Thank Flag Link Fri Jan 4, 2013
There were 31 homes (3 bed/ 2 bath) sold in Sunnyvale with Fremont High identified as their high school since 7/1/2012. The median price was close to $800k.

There were 27 homes (3 bed/ 2 bath) sold in Cupertino with Monta Vista High identified as their high school since 7/1/2012. The median price was close to $1,150,000. The average size of the home appears to be smaller than the Sunnyvale homes.

The standard MLS areas do not divide either Cupertino nor Sunnyvale into neighborhoods, so the statistics I regulary post for these cites are only city wide.
http://julianalee.com/sunnyvale/sunnyvale-statistics.htm
http://julianalee.com/cupertino/cupertino-statistics.htm

Other cities such as Mountain View and Palo Alto provide data which I use to provide neighborhood statistics.
http://julianalee.com/mountain-view/mountain-view-statistics.htm
http://julianalee.com/palo-alto/palo-alto-statistics.htm

Juliana Lee
Cell: 650-857-1000
Top 3 agent nationwide at Keller Williams Realty

Over 20 years experience
Over 1000 home sales completed in Santa Clara and San Mateo counties.
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Web Reference: http://julianalee.com
0 votes Thank Flag Link Fri Jan 4, 2013
Hi Zambeel,

If you're referring to single family detached homes, then I'm going to side with my pal, Nina D from Coldwell Banker on this one. The price ranges she quotes are spot on for the area. The only difference, of course, is that these are current or recent prices. Since supply is very low right now, those numbers can change in the coming months.

But, perhaps, your question should be more about desirability, which is reflected in home values. Right now, the best possible combination of schools would be Lincoln, Kennedy and Monte Vista. For Sunnyvale, the most desired location would include West Valley, Cupertino Middle, Homestead High School. Although the second best would be Stocklmeier, Cupertino Middle, Fremont High School on one side of Fremont, and Cherry Chase, Sunnyvale Middle and Homestead on the other side of Fremont Avenue (the second most desired for the same area would be Cumberland, Sunnyvale Middle and Homestead High).

Overall, there tends to be slightly more available housing in Sunnyvale than in Cupertino due to density and demography. Sunnyvale had more homes for sale in the past year than did Cupertino, and, as a result, the prices in Cupertino were a little higher. Also, do keep in mind that there are many people who like Cupertino and Monte Vista and will spend more money to be closer to the hills. Sunnyvale's better school district also suffers from being located fairly close to 85, which many buyers eschew, and that also has a slight downside factor on pricing in the area.

In the end, Zam, there's not real "typical" price difference since different homes in different areas will command or less than surrounding homes or comps. The best things is to work with a great agent and get the best information you can about a home and neighborhood before you buy.

Good luck!
Grace Morioka
Allison James Estates & Homes
Buyer Rebates, Low Cost Listings
0 votes Thank Flag Link Thu Jan 3, 2013
Zambeel,

You have received good responses below. A price variance exists based upon the school district, additionally the price is effected by:

Location
Square footage of home
Lot size
Number of bedrooms and baths
Condition of the home and many more factors.

What you need to decide is:
1. The most important thing in a home for you, is it the schools or not?
2. What is your budget

Once you have these two factors decided, we can help you find a home to fit your needs. Good news is that you have started the exploration process. Once we zero in on your needs in a home, I can assure you that we can help you find one. Please feel free to contact me for further consultation.

Best Regards
Monica Goyal, Realtor
DRE 01781926
0 votes Thank Flag Link Tue Jan 1, 2013
Hi Zambeel,
Put it Simply, a Home with 3 Bed/2 bath, can be at 700-900K for Ellis/Sunnyvale Midd Fremont High,
For West Valley, Cup Midd, Homestead High, bet $1.0- 1.3 M dependingon the location and Condition of the Home.....just Sold one at $1.3 - 4bed, 21/2 bath-2200sqft - in 94087......
For Lincoln, Kennedy monta Vista Area $1.2M to $2.2 M or more (3-5Beds - 2-3.5 Bath) depending on the Sqft, Location, Condition, Age of Property etc etc.....
For John Muir, Miller, Lynbrook High.....a Tad lesser than the MV area.....
And the Collins Elem, Hyde & Cupertino High - a Tad lesser than that too!

I live and work in Cupertino, my kids have gone thru the schools, I know the Neighborhoods inside out in Cup and Sunnyvale...........I serve the Silicon Valley/Bay area. If you are NOT working with a Realtor, and would like to sit down and have a detailed conversation, before you move ahead with your home buying needs....let me know, Be well and Safe,
Happy New Year!
Nina Daruwalla
DRE#01712223
0 votes Thank Flag Link Mon Dec 31, 2012
with regards to your specific question, I'd say about 10% between Ellis/Svle/Fremont vs. W.Val./Homestead as a generalization, but that varies on a lot of things in this marketplace. But Lincoln/Monte Vista is perhaps at par or a little above W.Val/Homestead. Hope that answers your question. Happy to sit down with you regarding this, because the rules aren't the rules as much in a market where there is only 16 listings for the entire City of Sunnyvale. The question is more of strategy and qualification, than it is about the home's value relative to the schools, since you will be competing against very strong buyers going into 2013.
0 votes Thank Flag Link Mon Dec 31, 2012
Agree that this is a very difficult question – we can provide statistical data for an entire zip code, but it becomes very difficult to break that data down by specific neighborhoods. It can be done – just takes a tremendous amount of work.
0 votes Thank Flag Link Mon Dec 31, 2012
single family 3/2 in convenient locations (eg cumulus - ellis/sunnyvale middle/fremont high) vs west valley / homestead high vs lincoln/montavista.
0 votes Thank Flag Link Mon Dec 31, 2012
That is somewhat difficult question because Cupertino/Monte Vista is a large area, and encompasses many different elementary schools and high school combinations., all with various different price points. Likewise for the 94087 area code feeding into Fremont High ( ie homes located within Nimitz vs Stocklemeir have a price differential). In this market, due to lack of inventory, you may not see much of a difference in anything due to scarcity of listings which drives the prices higher. That being said, in a normal market, Cupertino elementary schools with Fremont high prices are lower than Homestead High with Cupertino schools by about 5% or more depending on market conditions, house and location. I always use the quadrant system to explain pricing, since the elementary school boundaries do not match the high school boundaries. It's much easier to break it into quadrants than to discuss a large geographic area with multiple shools represented. If you want, contact me, and I'll explain these different quadrants to you and their different price points. Youll find my contact info at my website below.
0 votes Thank Flag Link Mon Dec 31, 2012
What property type are you referring to? Single family homes, townhomes, condos, duplexes, etc.?
Web Reference: http://www.archershomes.com
0 votes Thank Flag Link Mon Dec 31, 2012
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